Is Bitcoin Over? Mt. Gox Pauses Withdrawals

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Feb. 10 (Bloomberg) -- Matt Miller reports on Bitcoin exchange Mt. Gox’s cash withdrawal woes on Bloomberg Television's "In The Loop." (Source: Bloomberg)

I became converted over the weekend.

I am a bitcoin enthusiast.

Their prices fell.

Some people are saying it is over.

I say it is just getting.

Friday night, people writing into to me and saying where can i buy it?

It was me.

A lot of things have happened over the last four days.

A huge storm of votes on the pro and con sides.

Legal lows -- russia came out and said it is illegal to use bitcoin in the country right now.

Not exactly super surprising.

China has also had a huge war against bitcoin over the last few months.

Also, here in new york, a number of cases going on.

The vice-chairman of the bitcoin foundation is being accused of money laundering.

You have a pirate being held in new york, awaiting trial for silk road operations.

And there are people using bitcoin for money laundering.

It is not an indictment of bitcoin, but of people using it for things that you could easily use u.s. dollars.

Is it positive that bitcoin is the distraught there.

They are accepted mediums of currency.

If you read what mark andreessen wrote, it is that it's going to change the conversation.

I liken it as netscape.

It opened up the world wide web and that worked out.

This thing is that i can evolve and change, as you go along.

We'll -- unlike netscape, it can be changed.

Pc companies running scared.

Apple has taken off the block wall it.

It is a wallet that people use for bitcoin.

Apple has removed it from the ecosystem.

Hold on, i get it.

They're not comfortable.

Couldn't target say they should not target this?

Exactly.

I have been saying this for a long time at target.

Rather than using credit cards, they would not have had to have them cut down a couple weeks before christmas.

It is obviously -- on the one hand it is a safer medium to use.

A lot of people are trying to restrict its use.

It is very new.

I want to show some of the videos.

A lot of people have gone out in protest.

There is one who smokes cigarettes.

Not the smartest guy in the world.

Hitting it with a machete.

Someone shoot it with a rifle.

A number of people have changed over to android.

This video right here is why, until yesterday, i did not like bitcoin.

It seems like an underground medium run by -- that is fair enough.

It is something that i would enjoy doing, but it does not seem intelligent.

I might use a bitcoin wallet.

Not a rifle.

It is a huge show.

Stick around.

This text has been automatically generated. It may not be 100% accurate.

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